In this episode of Supply Chain Chats, Lisa Anderson talks about impacts from the lead up to the election and how the heightened risk levels in the supply chain will lead to a manufacturing renaissance. Manufacturers have been experiencing weaker sales backlogs with customers pushing out orders.
Ramp It Up! explores actionable strategies for supply chain executives to prepare for the looming threat of tariffs. In under 90 seconds, get key insights on how to stay proactive and protect your supply chain from potential disruptions.
What does the election mean for manufacturing and supply chain? Will it be a continuation of the status quo, a surge for manufacturers, or a further dampening of the economy?
Hundreds of pagers used by Iran-backed Hezbollah exploded in Lebanon and Syria. It appears to be a part of a plan of sophisticated, deadly attacks that targeted specific people, leaving 12 dead and thousands injured.
According to the ISM, "The Manufacturing PMI", a measure of manufacturing activity, registered at 48.5% in June, which is a decline from 48.7% in May.
The medical device market is expected to grow by almost $178 billion from 2023 to 2027 according to Technavio. Moreover, a Fortune Business Insights Analysis estimates the market to reach $799 billion by 2030. With such significant growth, manufacturing and supply chains must scale and mitigate risk to ensure supplies to customers and patients.
The supply chain is in a constant state of disruption. As we discussed on Supply Chain Chats, simple backup plans are no longer enough. In fact, you can look at recent events and determine if a backup is sufficient. Starting with the pandemic, of course, most if not all companies didn't have a sufficient enough backup plan.
Clients are struggling to keep up with customer's changing requests. Order backlogs remain relatively high (depending on the industry), but customers are pushing orders out at the last minute, pulling orders in without notice, adding future potential orders, and changing requirements on the fly. Production is scrambling to keep up.
The White House has launched a cabinet-level supply chain council as the criticality of the topic rises to the top.
Manufacturing appears to be turning the corner. According to the ISM, the Purchasing Managers Index (PMI) recorded a contraction but at the slowest pace of the recent cycle. In fact, this is the third straight month of improvement.
